South Korea Tag

South Korea aims to become a major player in internationally traded biomass over the next decade. Its renewable portfolio standards have legislated that 2 percent of the country’s energy come from renewable sources in 2012, to be raised incrementally each year until reaching 10 percent in 2022. Additionally, 350 of the country’s largest firms have been instructed to reduce their emissions of carbon dioxide. The policy will supplant the current feed-in tariff scheme currently in effect.

Many countries have ambitious plans to increase the amount of energy produced from biomass sources. The European Union’s target to derive 20 percent of its energy from renewable sources by 2020 could require an additional 40 million dry metric tons annually for the generation of electricity. Add on to this another 60 million tons per year for heating and cooling. In the United States, legislation has been passed requiring a quarter of all national energy to be supplied from renewable sources, including biomass, by 2025. Japan is expected to incorporate more biomass into its energy mix in coming years, particularly after its recent troubles with nuclear energy at the Fukushima plant. Then there is South Korea, which has approved a new Renewable Portfolio Standard targeting 10 percent of its electricity from renewables such as biomass by 2022. The measure could raise South Korea's consumption of biomass pellets to five million tons by the end of the decade.